Vietnam’s December PMI Strengthens for 13th Straight Month

Tuan Minh

10:31 03/01/2017

BizLIVE - Vietnam’s manufacturing activity in December stayed above the neutral threshold for 13 consecutive months.

Vietnam’s December PMI Strengthens for 13th Straight Month

Vietnam’s PMI in December strengthened for 13 consecutive months. Photo: Internet

The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, slipped to 52.4 in December from an 18-month high of 54.0 in November, but marked strengthening in manufacturing operating conditions for the 13th month in a row.
A reading above 50 – the neutral threshold – indicates economic expansion, while a reading below 50 points toward contraction.
Thanks to higher new orders, manufacturing output rose for the twelfth time in the past 13 months during December, albeit at a weaker pace than in the previous month. Consequently, manufacturers increased staffing levels for the ninth successive month.
“Solid growth in the final month of 2016 completed a generally positive year for the Vietnamese manufacturing sector. Local firms continue to be able to secure new work, with a joint-record rise in new export business a key highlight from the latest survey,” said Andrew Harker from IHS Markit, which compiles the survey.
“The sector therefore seems in good shape heading into 2017, wherein IHS Markit forecasts a rise in GDP of 6.3%,” the analyst added.

 

TUAN MINH

Từ khóa: PMI, GDP

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